The natural gas pipeline giant, currently valued at $28 billion quickly assented when Corvex Management LP and Soroban Capital Partners LLC asked for board seats and a better balance sheet from the company.

Corvex and Soroban first signaled their plans in a December securities filing in which they said the company wasn’t living up to its potential. This week, the funds said they’ve spent $2.5 billion to invest in Williams, and recent securities filings indicate they’ve accumulated more than 9% of Williams’ stock.

Late Tuesday Williams announced Soroban Managing Partner Eric Mandelblatt would be promptly appointed to its board. Corvex Managing Partner Keith Meister, or a “mutually agreeable” stand-in, will get a seat in November at the next annual board meeting.

In 2013 several bitter proxy battles waged at energy companies came to an ugly head. By comparison, Williams practically rolled out the red carpet for Mr. Mandelblatt, who was a partner at TPG-Axon Capital, and Mr. Meister, the one-time Chief Executive of Icahn Enterprises.

Williams Chief Executive Alan Armstrong said the company appreciates “the confidence that Corvex and Soroban have demonstrated in Williams via their substantial investments” and looks forward to working with them.

Shares of Williams were down slightly on the news in Wednesday’s trade. But after the market closed the company appeared to already be rethinking its pipeline portfolio. Williams announced a deal with its affiliated master limited partnership, Williams Partners L.P., that rallied the stock back to $41.48 a share. The company will sell its oil sands division in Alberta, Canada, raising $1.2 billion.

Campaigns pushing for more disciplined spending, earnings growth, and richer dividends started in 2012 and were a rude awakening for oil and gas outfits that had been rewarded for growing at any cost during the early days of the U.S. energy boom.

Some activist efforts resulted in dramatic overhauls. TPG-Axon Capital Management successfully agitated for the removal of SandRidge Energy Inc. Chief Executive Tom Ward. Hess agreed to replace more than half its board with new directors and removed Chief Executive John Hess from the chairmanship as part of a settlement with Elliott Management Corp.